How much you can receive with your third check – Community News
Stimulus Check

How much you can receive with your third check

Senate Democrats approved the nearly $1.9 trillion Covid aid package over the weekend, leaving only a house vote and President Biden’s signature among Americans and $1,400 aid checks.

There are a number of significant changes to the Senate version of the bill, including a reduction in the number of Americans eligible for stimulus payments. To qualify for the full $1,400, individuals must have an adjusted gross income (AGI) of less than $75,000. Couples applying jointly must have an AGI of less than $150,000 to receive the full $2,800.

Under the House version of the bill, payments would be reduced for every $100 a person earns over $75,000 until they lose the right to eligibility if they have an AGI over $100,000, while couples lose their right to $200,000 lost. Now, individuals earning more than $80,000 will not receive incentive payments, while couples earning more than $160,000 will also leave empty-handed.

Payments are based on 2019 or 2020 income, depending on when a taxpayer files their 2020 tax return.

To see how much help you could expect, the personal finance website Grow created a calculator that takes into account your filing status, annual income, and the number of dependents you have.

Find out how much your stimulus check could be by plugging in your AGI — click here if you need help calculating it — and other information below.